Prime Minister Pham Minh Chinh chaired a meeting of the Government's standing members with ministries and relevant agencies on March 4 to assess the situation and discuss scenarios and response measures to recent global developments that could adversely affect Vietnam, particularly the increasingly complex conflict in the Middle East and other regions.
According to reports and opinions presented at the session, assessments of the impact of the conflict in the Middle East on Vietnam, together with the formulation of response scenarios and solutions, were carried out promptly as soon as new developments emerged.
In his remarks, the PM instructed relevant ministries and sectors to submit daily reports to the Government Office before 1pm. He also called on agencies involved to remain on constant standby and to respond in a timely, flexible and effective manner.
Analysing and forecasting the situation in the coming period, PM Chinh warned of potential impacts on the country’s macroeconomic stability, particularly inflation and growth, as well as on energy security and logistics due to rising prices, possible supply chain disruptions, the safety of Vietnamese citizens abroad, national defence and security, public order and foreign affairs.
In order to respond in a timely and effective manner, and to ensure the fulfilment of the set targets, including economic growth of 10% or more, macroeconomic stability, inflation control and the safeguarding of major economic balances, PM Chinh underscored several guiding principles and viewpoints.
He stressed the need to remain calm, persistent and steadfast in upholding fundamental principles, avoiding panic, anxiety or loss of composure, while also guarding against complacency or a lapse in vigilance. It is essential to closely monitor developments so as to handle situations with flexibility, timeliness and effectiveness, and to maintain a proactive posture.
To address immediate impacts, the Government leader underscored several key measures. These include implementing a monetary policy suited to evolving circumstances, alongside a more focused and targeted expansionary fiscal policy, with the two policies complementing one another. He stressed the need to ensure energy security and adequate supply for production, business and daily life; to manage prices and markets effectively; to combat smuggling; and to prevent hoarding, price manipulation and market distortion that could harm the public. He also called for studying and implementing measures, in accordance with regulations, to stabilise petrol and oil prices.
Regarding human security, the PM directed ministries and agencies to prepare plans for the evacuation of Vietnamese citizens from high-risk areas if necessary.
He further requested that state-owned groups in the energy and mineral sectors take the initiative in implementing measures and handling issues within their authority, and promptly report to competent authorities on matters beyond their remit.
